5 comments:

I am not comfortable yet with direct BO. If there is a TRAP or good pressure play kind of setup I may try that. Also BRN was just above it. We need to learn to wait and have patience for the good setup. Each and every setup cannot be traded.

URD ji, you could have avoided the second trade as PDL was acting as a good support and PDL was just 10 points away. I have read in your previous post and noticed yesterday that it is better to avoid trades when BRN or imp DPs are nearby.

Having said that, I know it is easy to comment at end of day after looking at the complete picture, but tough to take action then and there. Pls forgive me for my comment.

I always welcome comments in any form. There is nothing wrong in it, so never worry about it.

After a sharp down fall, I expected it to consolidate some. Once I felt that consolidation was over, tried to enter into the direction of the trend at that time. Remember, if prices are going down, as a thumb rule, support will likely break. So expected it to get broken but it did not and I scratched it.

About me and this blog in brief

My name is Uday Dave. I am a full-time day trader, blogger and day trading educator. I mainly day trade Nifty, Bank Nifty, stocks and stock options and in the evening if I get time I trade MCX Crude Oil, Nickel and Silver using a 3-minute candlestick chart with Decision Point Trading System and price action trading methods. My only aim is to capture small moves, i.e. 20 to 25 points in Nifty and around 50 points in Bank Nifty daily.
I started this blog in year 2012 to record my trades, observations, experiences and to share them with other aspiring traders. I hope with all your support I will be able to continue to maintain this blog and improve further.